There are many mortgage lenders ready to loan you money. But there is much more to getting a loan than - just getting a loan.
"It's important for borrowers to find a lender that is not only knowledgeable but someone they can trust. You want to find someone that will provide top notch service, someone that is timely and responsive and will also keep your best interests in mind," said Kynan Pang, Central Pacific Bank.
Another thing to remember - the mortgage itself is not the end price. There could be other costs along the way.
"Most borrowers are price sensitive meaning that they want to make sure that they're getting the best deal possible. It's important for the borrower to ask their lender what types of fees are going to be incurred in the transaction and also why," said Pang.
Once those questions are answered, Pang says there is at least one more thing to look for in a lender.
"You want to be sure that you're comfortable with them and that it's a good match, personally. Of course, if you're looking to purchase property in the future, you won't have to spend time looking for another lender," said Pang.
Often, when folks are looking to buy a home or condo, they may have a tight timetable. That is something vital your lender should know about and be able to help you with.
"Right now in this busy environment, you want to be sure that your lender can process and close a transaction in order to meet the specific deadlines of your purchase contract," said Pang.
And Pang says, it doesn't hurt to look for special bargains when it comes to buying a home.
"Right now, we're offering a purchase promotion for people that are looking to buy property. We also have a closing cost credit for borrowers that are willing to open a checking account with Central Pacific Bank," said Pang.
